EURCHF - Sell at Kumo resistance and 0,50 Fib retracement
Daily:
- Ichimoku picture is still a bit hard to read after the January collapse after SNB abandoned the 1,20 peg. Price retested Kumo, which should act as resistance now.
- 0,5 Fibonacci retracement level (from 1,20 to 0,9650 low) is 1,0825
- Slow Stoch is very overbought
- Possible Heikin Ashi daily sell signal
4H:
- Ichimoku setup is still bullish with first support at 1,0734 (Kijun Sen) and lower support at 1,0680 (Forward Senkou B and 100 WMA)
- Slightly lower highs below 1,08
- DMI has chance to switch bearish
- Heikin Ashi candle turns red with haDelta bearish cross. Oscillator is turning bearish too.
As EUR will stay generally bearish due to ECB money printing, maybe it is time to watch for a short again. Especially if we see some form of correction in global risk appetite.
- Ichimoku picture is still a bit hard to read after the January collapse after SNB abandoned the 1,20 peg. Price retested Kumo, which should act as resistance now.
- 0,5 Fibonacci retracement level (from 1,20 to 0,9650 low) is 1,0825
- Slow Stoch is very overbought
- Possible Heikin Ashi daily sell signal
4H:
- Ichimoku setup is still bullish with first support at 1,0734 (Kijun Sen) and lower support at 1,0680 (Forward Senkou B and 100 WMA)
- Slightly lower highs below 1,08
- DMI has chance to switch bearish
- Heikin Ashi candle turns red with haDelta bearish cross. Oscillator is turning bearish too.
As EUR will stay generally bearish due to ECB money printing, maybe it is time to watch for a short again. Especially if we see some form of correction in global risk appetite.